The European Union is known for placing a higher premium on personal privacy than the U.S. does, and its latest campaign could force technology companies to comply with stricter data rules within its borders.

Hewlett-Packard Co. (HP) announced it will be taking an $8.8 billion charge as a result of fraudulent activity and misrepresentations made by Autonomy, a software company HP acquired last year for $11.1 billion.